Rudolph Peterson, 98, former Bank of Hawaii executive

By Karen Blakeman
Advertiser Staff Writer

Rudolph Peterson, a former Bank of Hawaii president and chief executive officer, died Dec. 2 in San Francisco.

He was 98 years old.

Peterson worked at Bank of Hawaii from 1955 to 1961, then left the Islands and became chairman of the board of Bank of America in San Francisco, the world's largest commercial bank.

Peterson was born in Sweden in 1904 and, as an infant, immigrated to Ohio with relatives. The family later moved to California. He graduated from the University of California at Berkeley in 1925, then spent 11 years working for Commercial Credit Co. before going on to his first job at Bank of America in 1936. In 1946, he moved on to TransAmerica Corp.

In 1969, President Richard Nixon appointed him chairman of the Task Force on International Development. In 1972, he became administrator of the United Nations Development Program, and held that position for three years.

On Dec. 30, 1966, Peterson was featured on the cover of an edition of Time magazine dedicated to the U.S. economy. In 1967, he was named Finance Magazine's Banker of the Year.

He also received a number of other honors at home and abroad, including being named Swedish-American of the Year and receiving the Spanish government's Grand Cross of Civil Merit, both in 1965.

Peterson is survived by his wife, Barbara; his son, R. Price Peterson; daughter, Linnea Bennett; four stepchildren; 10 grandchildren; and four great-grandchildren. A memorial service was held yesterday in Piedmont, near San Francisco.

Memorial donations may be made to the California Academy of Sciences Education Division, Golden Gate Park, San Francisco, CA 94118 or the Piedmont Community Church, 400 Highland Ave., Piedmont, CA 94611.

Reach Karen Blakeman at 535-2430 or kblakeman@honoluluadvertiser.com.